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2011_05.17 EDC Agenda Packet AGENDA KENNEDALE ECONOMIC AEVELOPMENT CORPORATION BOARD OF DIRECTORS REGULAR ME'ETING--MAY 17t'1 2011 405 MUNICIPAL DR.—KENNEDALE MUNICIPAL BLDG. COUNCIL CHAMBERS 7.15 PM L CALL TO ORDER U. ROIL CALL III. REGULAR ITEMS A. Review and consider action to approve regular meeting minutes dated April 19';2011. B. Review KEDC Financial Report, C. Review and consider rejecting all bids relative to construction of the Section House. D. Review construction options on the Section House and consider authorizing Executive Director to engage Brian Lea,DBA of Clear Construction as construction manager. K Discuss economic development incentives policy. F. Discuss options for use of property at 1170 E.Kennedale Parkway. IV. STAFF ANNOUNCEMENTSW'PORTS A. Executive Director/Orasi Development 1, TownCenter 9/11 Memorial TownCenter retail Building status,including Iender agrecinent UTA presentations V. EXECUTIVE SESSION A. The Econoinic Development Corporatibn will rnect in closed session pursuant to Section 551.0'72 of the Texas Government Code to deliberate the purchase,sale,exchange, lease,or value of real property. 1. Purchase of Land — TXDOT surplus properties -- Land sale protest B. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or otlier incentive to a business prospect with which the city is conducting economic development negotiations. 1. Review proposals for sale and development of: -- 1000 E.Kennedale Parkway V.I. RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO Eli ECUTIVE SESSION,IF NECESSARY''. VII. ADJOURNMENT MINUTES KENNEDALE ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS REGULAR MEETING —APRIL 19'h, 2011 406 MUNICIPAL DR. -- KENNEDALE MUNICIPAL BLDG. COUNCIL CHAMBERS 1. CALL TO ORDER President Mundy called the meeting to order at 7:15pm II. ROLL CALL BOARD MEMBERS PRESENT ABSENT ROBERT MUNDY-PRESIDENT,PSI x BEVERLY HAYES--P3 x DARRELL ERWIN--P1 x PAT TURNER-P2 x DONNIE GRAHAM--P5 x MARK YEARY-P6 x REBECCA MOWELL--P 7 x CITY STAFF PRESENT ABSENT BOB HART,EXECUTIVE DIRECTOR Ix SAKURA MOTEN•DEDRICK, CITY FINANCE DIRECTOR Ix III. REGULAR ITEMS A. Review and consider action to approve regular meeting minutes dated March 22"", 2011. A motion to accept the minutes as presented was made by Darrell Erwin, second by Mark Yeary, Motion passed 6-0, B. Discuss and consider approval of independent auditor's report for year ended September 30, 2010. Auditor Greg Schropshire from Pattillo, Brown, and Hill LLP Certified Public Accountants presented the annual audit report. The KEDC budgeted for a large loss which diet not happen, so the entity is in good standing. The fund balance did increase, and no problems were found during the audit process. President Mundy inquired as to what the KEDC was doing well and what areas they could improve upon, to which Mr. Schropshire responded that the financials have been tracked very well. Multiple funds are helping with the tracking of debts and assets which makes items easier to find. A motion to approval the independent auditor's report for year ended September 30, 2010 was made by Darrell Erwin, second by Donnie Graham. Motion passed 6- 0. C: Review KEDC Financial Report. Sakura Dedrick, City Finance Director, approached the board. The report was very similar to last month with some changes in sales tax due to the timing of the audit. Gains were seen with Majestic and general growth in the economy has also been helpful. Surplus Warehouse and Dollar General were also normal. Ms. Dedrick displayed how her current figures were the same as those found in the auditor's report. A motion to accept the financials as presented was made by Mark Yeary, second by Donnie Graham. Motion passed 6-0. D. Consider authorizing Executive Director to sign Economic Development Corporation lender agreement. Bob Hart approached the board with information related to several issues relating to the lender agreement, noting that the commercial property management agreement is a potential problem, as either entity can terminate with 30 days of notice. Mr. Hart noted that that in that case it would be beneficial if the city had the option to take over payments instead of the bank. Mr. Hart's recommendation is that he be authorized to sign the documents after working out the details with the city attorney regarding the city's ability to adopt the payments in the case of client default. A motion to authorize the Executive Director to sign the documents following a change in language to allow the city of Kennedale to take over the property in the stead of the current client in case of his default was made by Donnie Graham, second by Mark Yeary. Motion passed 6-0. E. Consider acceptance of Texas Leverage Fund loan. Bob Hart approached the council about the Leverage fund, noting that the approval that had been given was given for 45 days, and today is day 41, If the board chooses to accept the fund, we have six months to draw down the allotted funds. If the funds are not used in that time period they are lost. There is no initial cost and the interest in only accrued once money is drawn. This loan can be used for any qualifying economic development ventures should they present themselves. A motion to accept the Texas Leverage Fund loan was made by Rebecca Mowell, second by Pat Turner. Motion passed 6-0. 111. STAFF ANMOUNCEMEMTS/REPORTS A. Executive Director/Orasi Development 1. TownCenter--Bob Hart presented the following information: — 9/11 Memorial President George W. Bush will send a letter of acknowledgement regarding the memorial. John Corning may be able to speak during the event. The city is still trying to come up with a date for the unveiling and dedication of the memorial. Section House bid schedule Currently out for bid. Bid period will close on april 27'f'. So far about 15 interested parties have made inquiries. Target budget is 200,000. UTA presentations and projects Ethics presentations at 2pm on May 2"d. May 120' at 530 during council work session, a class will be reporting on the citizen opinion survey. Citizen engagement and historic district presentations on May 11`" at 6pm in downtown Fort Worth. The School of Architecture is also doing a study for the city, laying the basework for later, more detailed projects. — Street and Park construction update Signal light construction on Bowman Springs and Kennedale Parkway began today. Sublett is under construction, and the Little Road project will go to bid on June gu'. Almost all right-of-way has been acquired. Two properties may go to condemnation. Bowman Springs bridge properties are almost acquired. Bids for the bridge are being accepted as of today. Fellowship Academy has bought the property on Bowman Springs. P.0 Tech Industry Automobile spoiler distribution center is moving to Kennedale Parkway. Jack Thompson of Orosl Development has been out looking at potential restaurants, several are interested. Most current work has been dealing with the Grover property and the issues surrounding that potential deal. The board recessed regular session and entered executive session at 8:17pm. V. EXECUTIVE SESSION A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas Government Code to deliberate the purchase, sale, exchange, lease, or value of real property. 1. Purchase of Land — TXDOT surplus properties — Land sale protest B. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business prospect with which the city is conducting economic development negotiations. 1. Review proposals for sale and development of. — 1000 E. Kennedale Parkway V!. RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO EXECUTIVE SESSION, IF NECESSARY. President Mundy reconvened the board into open session at 8:37pm No action was required out of executive session The next economic development corporation meeting will be held on May 170'. A motion to adjourn was made by Donnie Graham, second my Pat Turner. Motion passed 6-0. VIL ADJOURNMENT A motion to adjourn was made by Donnie Graham, second by Pat Turner. Motion passed 6-0. The meeting was adjourned at 8:40prn. APPROVED Robert Mundy, Board President ATTEST i Amethyst G. Cirmo, City Secretary i I I Staff Report TO (lip M6111hers of the EDC4B 1136ani Date: May 17,2011 Agenda Item No: Subject: DISCUSS AND REVIEW MARCH 2011.EDC FINANCIALS Originated by: Sakura Moten-Dedrick Summary: Budget/Amendment NIA Year-To-Date o Ad 'Valorem Tax: No significant change. Collection of Municipal Management District Assessments. e Sales Tax.Increase in comparison over this time last year,however,difference in increase is not actually as large as provided. Last year contained a slight error in how sales tax was posted for accrual purposes. Last year's sales tax for YTD through Mar 2010 should have actually been $79266. We continue to see an increase in comparison to this same time last year. Furthermore, this is due to both a gains in the economy, as well as the reallocation of Majestic Liquor sales given our FY09/10 audit by Municap Services (see Monthly Graph, 3-Year Historical Graph, 10-Year Historical Data). o Investment Earnings: Due to declining interest rates, income continues to be much lower in comparison over this time last year. Miscellaneous Income: No significant change. Surplus Sales/Rentals: Increase in comparison over this time last year. Staff continues to receive income from Cypress Properties in a timely manner. We used to run two months in arrears. For FY2010-11 Cypress Properties spreadsheet, Jan-Mar Tax Escrows are much higher than previous clue to collection of MMD Assessments given annual invoice. To elate,we have received payments fi-om Surplus Warehouse, Chicken Express and Subway. We are still awaiting Dollar General, approximately $5K. Please note that Dollar General is disputing this at the moment. m Personnel:No significant change. Supplies: Decrease in comparison over this time last year. * Maintenance: Increase in comparison over this time last year. This is in large part clue to the improvements made to the Town Shopping Center in reference to repairs and painting. ® Sundry: Decrease in comparison over this time last year. e Debt: No significant change. a Transfers: Increase in comparison over this time last year.This fiscal year represents a payment in Nov (interest only) and May (principal plus interest). Last fiscal year represents the interest only payment reimbursed to the General Fund for the $2M CO Bond at year end. However, it was not made until May, and this is why the Jan YTD is$0. m Capital: Increase in comparison over this time last year. Represents expenses towards Town Center Redevelopment. Estimate Please note that the FY2009-10 figures are now"officially audited." Recommended Motion: Staff reconunends approval. Disposition by Board: CITY OF KENNE(SALE,TEXAS ANNUAL PROGRAM OF SERVICES INCOME STATEMENT 13:ED(t43 FUND fY09-10 FYO-10 FY09.10 FY09-10 FYltt,lI FYTO-11 FY10-11 FY10-11 INCOME STATEMENT BUDGET AMENDED YTDMAR ACTUAL 'PA0005E0 AA1I:NDED YTD MAR ESTIMATE OPERATING REVENUES 567.171 511,788 112,341 592,446 ;;61`4.46) 586,487 251,484 640,538 OPERATING EXPENDITURES (744,417) (2,005,540) (54068) (1,679,726) (Ma.4 421 (648,442) (605,6371 (889,941) OPERATING INCOME/(LOSS) (177,246) (1,493,752) (434,627) (987,280) (21,95+) (21,955) (3$4,154) (249,403) NONOPFRATING REVENUESI(EXPENSES) INTEREST FARNNGS 20,000 20,000 11333 1,958 41200 126 250 TRANSFERS IN - - - - - - (TRANSFER OUT) (10,00 (28,000) - (26,540) (154,4519) (154,617) (39,809) (154,619) NEf OPERATING INCOME/{LOSS) (167,246) (1,501,752) (433,194} {1,011,841) (172:373) (172,374) (393,837) (403,772) BEGIN NING FUND BALANCE $1,595,012 $1,595,012 $1,595,012 $1,595,012 $ 503,IJ $ 583,151 $ 583,151 $ 583,151 ENDING FUND BALANCE(EXCLUDING FUND 95) $1,437,766 $ 93,261 $1,161,818 $ $83,151 410,777 $ 410,777 $ 1'89,314 $ 179,379 95:EDC4E RESERVE FUND $ 119,418 $ 119,418 $ 11 4,41 8 $ 119,637 § 1 11',6$7 $ 119,637 $ 119,637 $ 119,637 ENDING FUND BALANCE(INCLUDING FUND 95) $1,557,184 $ 212,678 $1,281,236 $ 702,768 $ 630,414 $ 530,414 $ 308,951 $ 299,016 4 `EXEMPLIFYING EXCELLENCE` CITY OF KENNEDAIE,TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY 8Y CATEGORY 15.EDC4B FUND FYa9-10 FY09-10 FY09.10 FY09.10 .FY1Lf 11 FY10-11 FY10.11 PY10-11 FY09.10 FY10-11 CATEGORY BUDGET AMENDED YID MAR ACTUAL TROPOSE13 AMENDED YTD MAR ESTIMATE YTD% YID 7 BEGINNING FUND BALANCE $1,595,012 $1,595,012 $ 1,695,012 $1,595,012 ,$ 4"1151 $ 583,151 $ 583,151 $ 583,151 AD VALOREM,TAXES - - - 16,690 23,46?. 23,467 32,064 37,265 0.0% 136.6% SALES/BEVERAGE TAXES 323,571 306,744 32,795 450,895 :;?3,773 323,775 117,308 3671529 1'0.7% 36.2% INVESTMENT EARNINGS 20,000 20,000 1,333 1195$ 4,2011 4,200 126 250 6.7% 3.0% MISCELLANEOUS INCOME - - - 21,065 - - - 0.0% 0.0% SURPLUSSALESIREWALS 243,600 205,044 79,596 203,796 231.244 239,244 102,111 235,744 38,8% 42.7% TOTAL REVENUES $ 587,171 $ 531,788 $ 113,674 $ 694,404 $ .540,607 $ 590,687 $ 251,610 $ 640,7$8 71.4% 421% PERSONNEL - - - - - - - 0.0% 010% SUPPLIES 33,860 28,860 16,238 21,634 ;),1110 31,610 21362 31,610 56.3% 7.5% MAINTENANCE 23,790 23.794 9,746 )7,905 IF;h J 17,790 16,539 17,790 41.07. 93.0% SUNDRY 417,537 1,024,582 141,103 300,50) 249,7.44 249,744 122,671 232,744 13A7. 49.1% DEBT 164,230 114,230 39534 114,149 1JI-ml 111,798 38,277 111,798 34.6% 34.2% TRANSFERS 10,000 28,400 26,540 1q?G 7 154,619 39,809 154,619 0.07. 25.7% CAPITAL 95,000 814,078 340,246 1,225,538 197,501 425,788 496,0 41.8% 215.6% TOTAL EXPENDITURES $ 744,417 $2,033,540 $ 546,868 $1,706,265 S 768,061 $ 763,061 $ 64SA47 $ 1,044,560 26.9% 84.6% REVENUES OVER EXPENDITURES $ (157,246) $(],541,732} $ (433,1941 $(1,011361) 1 [172,3?,l} $ (172,314) $ (393,$37) $ (403.772) ENDING FUND BALANCE $1,437,766 $ 93,261 $1,161,818 $ 583,151 :.$ ¢10,777 $ 410,777 $ 189,314 S 179,379 ADJUSTMENTS FUND BALANCE AS%OF EXP 193.1% 4.0.5 212,4%P 34.2% 6933% 63.6% 29.37. 17.1% RESERVE(NO REQUIREMENT} $ - $ - $ - $ - $ $ $ - $ - RESERVE SURPLUMSHORTFALL) 51,437766 S 93,261_S 1.161.818 S '583.151„_.._ 410.777 $ 789.314 S 179.979 "EXEMPUTFYTNG EXCELLENCE' CTIYOF'KENNEDA(F,TEXAS ANNUAL PROGRAM OF SERVICES REVENUE LINE ITEM SUMMARY 15-EDC411 FUND FY09.10 FY09.10 PY09.10 FY09.10 FYIp-Tl PY10.11 FY10.11 FYI0.11 PY09-10 1:Y10-T1 ACCOUNT ACCOUNT NAME BUDGET AMENDED YID MAR ACTUAL PROPOSED AMENDED YID MAR 0TIMATE YTO% YTD% 4001-00-DO PROPERTY TAX-CURRENT YEAR - - - - 010% 0,0% 4002-OQ-OO ASSESSMENTS-CURRENT YEAR - - 16,690 13.461 23,467 32,064 37,245 m 0.0% 136.6% AD VALOREM TAXES $ $ $ $ 16,690 ,$ 23,457 $ 23,467 $ 32,064 $ 37,265 0.0% 136.67. 4081-00-00 SALES TAX 323,571 306,744 34795 45005 -373,7,75 323,775 117XS 367,529 10.7% 36.2% 4082.00-00 MIXED BEVERAGE TAX - - - - - 0.0% 0.0% SALES/BEVERAGE TAXES $323,571 $ 306,744 $ 32,795 $450,895 5'. 323,775 $ 323,775 $117,308 $ 367,529 10.7% 36.2% 4401-0000 INVESTMENT INCOME 20,000 2D,000 1,333 11958 4,2Lo 4,206 126 250 6.7% 3.0% INVESTMENT EARNINGS $ 20,000 $ 20,000 $ 1,333 $ 1,958 $ h,Wl) $ 4,200 $ 126 $ 250 6,7% 3.07o 4409-OMO MISCELLANEOUS INCOME - - 21;W - - - - 010% 0.0% 441.5VOmO0 INSURANCE REIMBURSEMENT - 0.U% 0.U% MISCELLANEOUS INCOME $ $ $ $ 21,065 S $ - $ - $ - OA% 010% 4805-QO-W RENTAL FEES-SHOPPINGCENTER 243,6W 205.044 79,120 2D2,376 Z,5,44.4 235,244 102,437 235,244 38.6% 4357. 4606-01L00 RENTALINSURANCE - - 426 1,420 WI 4,000 (326 . 500 RDIV/01 -8.1% SURPLUS SALES/RENTALS $243,600 $ 205,044 $ 79,546 $203,796 S 234,244 $ 239,244 $102,111 $ 235,744 38.8% 423% TOTAL REVENUES $587,171 $ 531,788 $113,674 $694,404 $ 690,497 $ 590,687 $251,610 $ 640,788 21.4% 42,67. 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CGGS qq� a r u`1 '.� o 1u? a 4st u �.di L2 V tji U c q wm a s s a`ui C L w d Att o a4F � �- CTTr OF KEHNEDAIE:7EXA5 ANNUAL PROGRAM Of SERVICES EXPENDITURE IIHEITEM SUMMARY 18:EDC0 FUND 0T:ADMINISTRATION FY09.10 FY09.10 FY09.10 FY09.10 FYi4.1k 1110.11 FY10.11 PY10-11 FY09.10 FY10.11 ACCOUNT ACCOUNIIIAME BUDGET AMENDED YFDAIAR ACTUAL PROP 3EG AMENDED YID MAR ESTIMATE YTD% YFD% 5101-01-00 SALARIES - - - - - OAR 0.09 5107.01.00 OVERIM 04% 0.0% 5111-01-00 AVIO ALLOWANCE - - - - - - - Oz% OAS 3114-01-'00 LONGEVRY 0m 0.0% 511501.7-0 RETIREMENT OA% OA% 5116-01-00 UNEIAPLOYMEN-r N"ANCE - - - - - - - OJc% 0.0% 5117-01-00 FCA 0.0% 0.0% 5118-01.00 RiMCAL 6-ISURANCE - 0.0% 0.47- 5120-01-00 LIFENSURANCC - - - - - - - Om OR% 5121.01400 DENTAL INSURANCE - - - - - - - ODA 0.0% 5122-01-CO MONMURANCE - 0096 0076 5190-01-00 VACATIONJSK'Y./TERM/L.fAVEADJ - _ - - - - -0.0% O,7-% PERSONNEL $ - $ . $ $ S` _ $ $ $ - 0.0% 0.096 522001-00 UNFORMS 300 300 - - F 300 300 OA% Om 5240-01.00 PMNIEDSUPPUES 25,000 22000 15,512 20,646 nrco 22000 2.351 22,000 70.57- 10.7% 5260-01-00 GEN32ALOFFICESUPPLIES 500 500 102 155 f,/J 250 12 230 203% 4.7% 5261.01.00 POSTAGE 1,000 500 - - EW 500 - 00 O,O% 00% 52&}01-00 7ALVORE-QUG'fW.k.LTOOLS<= 1,000 - - 196 - - - 0.0% OA% 529001-00 fWFNDA8L1:SUPVM I,500 11000 12. s, ii 4.000 - 4,000 0.07, OA% SUPPLIES $ 29,3CC S 24,30 $ 15.613 $ 21,009 5. :2 $ 27,050 $ 2,362 3 27,050 64.8% 8J% 5403-0100 MLOING FAAINTENANCE 4,376 _ O-c% 00% 544001.00 OFTICE EQU.P/SOMARE hUUNT 0.07, om MAINTENANCE $ $' $ $ 4,376 S $ $ $ 0.0% 0.0% 5501.01.00 ADVERTISING 11,000 5,000 343 2A10 ;frxi 5,000 - 10.000 6.9% 0.09; 55 1001-00 A%OC DUES/PVBL1CAlKM 10w 270 - 3,475 8 75 3,375 1,006 3,375 0.07, 29,9% 5512-01.00 CONTRACMALSFRt ACFS - O.0-A OJo% 5525-01-00 TRAHNG/SBUNARS 2300 1,w0 _ - 1,0.11 I,ODO 1000 0.0% 0.07- 556501-00 LEGALSERVICES 110,000 401000 171363 25322. °5,[1111 25.000 21593 2,5,000 4147- 10.4,%' 5567-01-00 AUOITSERViCES 4,000 4,000 1.FA0 1,500 1,500 - 1,500 3715% 0.0% 5569-01.00 NSLWOIW - OA% om 5570-01-00 SPECIAL.SERViCES 7$,920 103A20 38,672 162,725 S+S,Q l 95,420 51.254 95,420 37.47- 53.7`61 5575.01-00 EQVP7,IFNTRENTAL - 358 - - - 0.0% OA% 5578-01-00 TRAVEL 61000 700 90 122 7(13 700 - 700 12.9% 0.0% 558(}01.00 ENGWEERIVGSERV{CES - - - - - - 0.0% 0.07. 55585-01-00 TEL.EPHO'JEWVICES - - - - - - - 0.07- 0.0% 5595-01-00 ADYJNCHARGEGENERALFUND 56.717 32052 20,564 6682W LA,0 58,649 31,537 58,649 38,1X» 5318% SUNDRY $ 200,137 $ 707,182 $ 78.632 $ 261,7115 1 K i4 $ 190,644 $06.390 $ 195,644 S73% 45.37- 5610-01.00 ViiSUALGRANT 90.000 0.0% OA% 561501-00 FUNCTIONAL GRANT - - - - OD% On% S625-01-CG OLIANCFCOSr 0.0% 0.0: DEST S $0,000 $ $ $ b $ $ S 0.056 0.03s 5701.01.00 TRAN$FFR OW-GENERAL FUND 10,000 1.000 - 0.4l0 0.0% 5714-01.00 TRA1SfEROUT-DED:CAT NFUND - - - - - - - - 0.07. 0.0% 5795-01-00 TRANSFER CUT-EDCRESFRVE FUND _ - • - - - - - - 0.0% OD% TRANSFERS $ 1%000 $ 1.000 $ S - 0.0% 0%36 580001.00 LAND 23,070 400,900 100 38507 1000 10,000 6,232 10,000 0-07-6 623% 581301-00 KEN NEOALE114TRANCESIGN A5." 45,00a - - 45.000 0.0% 0" 582091-00 BUILOINGUAPROV&ANt 25,0:10 369,078 340,146_ 351,004 1 rail 15000 - 1sDDD 92.2% 0,01% CAFITAL $ 95.000 $ 814,078 $340,246 $ 736,404 5�90,050 $ 70,000 $ 6.232 $ 60,000 A1.8% 83% TOTAL EXPENDITURE$ $ 384,437 $1,046,560 $434,$92 $1,023,996 $ 2i1',1-94 $ 287,694 $ 94,984 $ 282.694 41.5°% 33.0% 'EXEMPLIFYIHO EXCEIIENCE" CITY Of KE;IMEDAIE,TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE TINE ITEM SUMMARY 15.EDC4B FUND 01:ADMINISTRATION 03:DEBT SERVICE FY09.10 FY09.10 FY09-10 FY07-10 fY10.41 FY10.11 FY10-I1 FY10-11 FY09-10 FY10.11 ACCOUNT ACCOUNTNAMV BUDGET AMENDED YID MAR ACTUAL V110FOSE0 AMENDED YTQ MAR ESTIm.A1E YID% YTD% 5620-01-03 ISSUANCE COSTS - - - - - 0.0% 0.07. 5621-01.03 PAYING AGENT FEES - - - - 0.07 0.0% 5 643-01.03 2007$1.2M TAX BOND-INTEQEST 79,230 79,230 39,534 79,149 T098, 75,798 38,277 76,748 49.9% 49.8% 364301.03 2007$1.2M TAX BOND-INTEREST 35,000 35,000 35,000 35,000 35,000 0-0±9 0.0% DEBT $ 114,230 $ 114,230 $39,634 $114,149 $ 111,7 R $ 111,798 $38,277 111,798 34.6% 34.27- 5702-01-03 TRANSFER OUT DEBT SERVICE FUHf) - 27,000 26e540 154119, 154,619 39,809 154,619 0.0% 25.7% TRANSFER $ $ 27,000 $ T-26,540 $ 1lK619 $ 154,619 $39,809 $154,619 0.0% 25.7%6 TOW EXPENDITURES $ 114,230 $ 141,230 $ 39,534 $ 140,689 $ 266AI6. $ 266,416 $78,087 $266,416 28.07. 29.3% "EXEMPLIFYING EXCELLENCE, CAY OF KENNEQALE TEXAS ANNUAL PROGRAM OFSERVICES EXPENDITURE LINE REM SUMMARY 15:EOC49;FUND 02.TOWN SHOPPING CENTER FY09.10 FY09-10 FY07.10 FY09-10 FY.10.11 FY10-11 FY10-11 PY10.11 FY07-10 FY10.11 ACCOUNT ACCOUNTNAME BUDGET AMENDED YTD MAR ACTUAL Ptigt: t D, AMENDED YTD MAR ESTIMATE YFD% YTD% $284-02-00 MINOR EQUIP/SMAU-TOOLS<$5Y 4,560 4,560 625 625 4.5€1) 4,560 - 4,560 13.7% 0,0% SUPPLIES $ 4,560 $ 4,560 $ 625 $ 625 $ 4, 0 $ 4,560 $ $ 4,560 13.790 0,0°!0 5403-02-W BUILDING MAINTENANCE 23,790 23,790 9,746 13,528 7;770 17,790 16,539 17,790 41.0 93A% MAINTENANCE $ 23,790 $ 23,790 $ 4,746 $ 13,528 $ 11,770 $ 17,790 $ 16,539 $ 17,790 41.0% 93.43�a 5`,411-02-00 ADVERTISING - - - 5510-02.00 ASSOC DUES/PUBLICA110NS - - - D.0% 0.0% 5512-02-00 CONTRACTUALSERV[CES - - - - - 0.0% 0.0% 5530-02-00 ELECTRIC SERVICES 71S1m 7,804 IA69 2,681 71W 7"D 503 7x800 18.8% 6.4% 5545.02.00 INSURANCE-PROPERTY - - 31779 3,779 4.00<] 4,003 3,401 4,000 RDIVIO[ 85.0% 5565-02-00 LEGALSERVICES 6,603 - - - DiV10t 00% 5570-02-00 SPECtALSERVICES 9,6w 900 - 10,137 6,LOU 6,000 8,440 10,000 D.0% 134.0% SUNDRY $ 17,400 $ 17,400 $ 11,850 $ 16,596 1 ,8LQ $ 17,800 $ 11,943 $ 21,800 68.1% 67.1% IOTALEXPENDITTURES $ 45,750 $ 45,750 $ 22,221 $ 34750 $ 40,154 $ 4D,150 $ 28/183 $ 44,150 48.67. 70.9% "EXEMPLIFYING EXCELLENCE" CITY OF KENNIMALE,TEXAS ANNUAL PROGRAM OFSERVICES EXPENDITURE VNE ITEM SUMMARY IS:EDC4B FUND 03:TOWN CENTER REDEVELOPMENT HOMO FY09-10 FY09-10 FY09-10 FY1041 FY10-11 FY10-11 FYI0-i1 FY09.10 FY16.11 ACCOUNT ACCOUNTNAME BUDGET AAAENDED YfDMAR ACTUAL MOYt5SEO AMENDED YTDMAR E$1IMA7E YfD% YTD% 5570-"OD SPE (-SERVICES 100,000 266,667 40 335 1 - - 0.0% 0.0% 5579-03-OU ARCHTTECTIDESIGNSERVICE$ 75.OM 266,661 37.771 - ?11104 26000 - - 14.2% 0.0% 358403-00 ENGIHEFR)NGSERVICE$ 25,000 266,667 121910 2I.M 15,Mu 15,300 29,338 15,300 4-8% 159.1% SUNDRY $ 200,000 $ 800,000 $ 50,721 $ 22,193 $ 44,?¢'3 $ 41,300 $ 24,338 $ 15,300 6137. 58.9% $847-0300 CONSTRUCTION - 488,637 11271.M 127,501 419,556 436.000 OA% 329.1% CAPITAL $ • $ . $ - $488,637 5 127,501 $ 127,501 $419,556 $ 436,000 0.07. 324.1% $ 200,000 $ $00000 $ 50,721 $510,830 $-- 1b(160i $ 168.601 $443,894 $ 451,300 6.3% 263.0% lEXI:MPIIWINC EXCELLENCE" CITY OF KENNEDALE,TEXAS ANNUAL PROGRAM OF SERVICES INCOME STATEMENT 19:EDC46 CAPITAL BOND FUND FY09-10 FY09-10 FY09-10 FY09-10 FY10-11 FYI 0-11 FY10-11 €Y10-11 INCOME STATEMENT BUDGET AMENDED YTD MAR ACTUAL Pko`mitb AMENDED YTE)MAR ESTIMATE OPERATING REVENUES - - 2106,635 206,&35 - OPERATING EXPENDITURES - - - (7295621 126?.667) (262,667) (475,198) (706,500) OPERATING INCOAIE/(LOSS) 2,006,635 1,277,073 (262,667) (262,667) (475,198) (706,600) NONOPERATING REVENUES!(EXPE ISES) INTEREST EARNINGS - - 427 2,278 $Ci0 500 11028 1.500 TRANSFERS IN - - - - - [TRANSFER OUT) - - - - - NET OPERATING 1NCOA5E/(LOSS) 2,007,062 1,274,351 (262,147) (262,167) (474,170) (705,000) BEGINNING FUND BALANCE $ $ $207,062 $ $1,279,351 $1,279,351 $1,279,351 $1,279,351 ENDING FUND BALANCE $ - $ - $2,007,062 $1,279,351 '.$1,017,104 $1,017,184 $ 805,181 $ $74,351 °EXEI'A PLIFYING EXCELLENCE" CITY OF KFNNEDALF,TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY 8Y CATEGORY 19:EDC0 CAPITAL.BOND FUND FY09.10 FYOF-10 FY09-10 FY09-10 FY 10.11 FY10.11 FYID-11 FYID-11 PY09.10 EYTO-11 CATEGORY BUDGET AMENDED YfD MAR ACTUAL PBGPC3SCD` AA1ENbE0 YT0 MAR ESTIfdATE YID% YID BEGINNING FUNDBAIANCE $ $ $ - $ $ 1,279,35) $1,279,331 $1,279,351 $1,279,351 INVESTMtNTEAR14INGS 427 2,27$ 11W 590 1,028 1,560 ODIV/01 205,77o TRANSFERS - - 2,006,635 2,006,635 - -- #DIV/01 0.0% TOTALREVENUES $ - $ $ 2,007,042 $2,008,913 -5W $ 500 $ 1,023 $ 1,500 8D1V/O1 205,7% AkAIMENIANCE - - - - 0.0% 0.0% SUNDRY - - 210,W 2R,ldZ 28,143 41,625 100,000 0.0% 219.0% CAPITAL - - - 518754 234424 234,524 413,573 606,500 0.0% 176.3% TOTAL EXPENDITURES $ $ - $ - $ 729,562 '$ 262,667 $ 262,667 $ 475,198 $ 706,500 0.0% 180,9% REVENUES OVER EXPENDITURES $ $ - $ 2007.062 $1,279,351 (20-k671 $ (262,167) $ (474,170) $ (705,000) ENDING FUND BALANCE $ 2,007,062 $1,279,351 $1,017,184 $ 805,181 $ 574,351 ADJUSTMENTS FUND BALANCE AS%OF EXP 0.0% 175.47. 3$7,3 387.37. 169.4% 81.3% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ • $ - RESERV€SURPLUS SHORTFALL 2,007,062 1279351 1,017,IU4 1,017,184 805,181 574,351 FXEIAPIIFY1NCr EXCELLENCE' CITY OF KENNEDALE,TEXAS ANNUAL PROGRAPA OFSERVICE$ REVENUE/EXPf ,DITURE LINE J7FM SUMh ARY 19.,EDC45 CAPITAL BOND FUND FY09.10 FY09.10 FY09.10 FY09.10 fV1041 FY10-11 FYID•11 FYlO.11 CY-FY FY09-10 FY10•li ACCOUNT ACCOUNT NAME BUDGET AMEHOED YTD FAAR ACTUAL PXOP0$10' AMENDEO YTD&AAR ESTIMATE CHANGE YID% YID% 4401-00-00 INVESIMENTLSC0ME 427 2,278 - __—y1ol 6100 I;m 11500 500 #PTJf01 205.7% INVESTMENT EARNINGS $ $ $ 427 $ 2.278 '$ '--00 $ 500 $ 1.028 $ 1,500 S 500 6DIVJ01 205.7% 4913^00-00 TRAIMERBV-CAKTAL ROM RJ'40 2006.635 21006.635 - - - --#OTVM OA% TRANSFERS S $ $2.0 635 $2,006.635 'S $ • $ • $ $ - iDIV7D] O.V4 TOTAL REVENUES $ S - $2,007.062 52,008,913 '.$ SOO $ 500 $ 1.028 $ 1,900 $ 500 9DIV 101 205J% 19:EDC48 CAPITAL BOND FUND 01:TOWN CENFFR REDEVELOPMENT FY09-10 FY09.10 FY09.10 PY09.10 FYID Al FY10-I1 FY10-11 FY10-11 CY-PY fY09.10 FYIO.11 ACCOUNT ACCOUNTNAME BUDGET AMENDED YID MAR ACTUAL P OPOSED AMENDED YTDMAii ESTIMATE CHANGE YTD% YTD% 540301.00 BUIL(XNO MAAMFKANCE MAINTENANCE S 5 $ $ $ $ S S 5 - 0.07. 0.0% 5525-01-03 TRA64NOISEMNARS 40 - 0.0% O.0% 5510.0100 SPECUALSERVICFS 157,725 - 0.0% 0,0% 5579-01-a0 ARCHIFECM$IGNSERVICES 19,422 x,263 SOACO OLl% p1V/OS 55 -01 ETlGENFFRI\C7SERVECES - 33,622 t#,I�? 28,143 31.363 50 0 28.143 0.0% 111.4% SUNORY $ - $ - $ - $ 2i 0.809 $ -2d,143 $ 28,143 $ 61,625 $ 100,000 $ 28,143 0.0%6 219.0% 5800-01-Do FAT€0 6.678 6,473 61500 0.0% #D1Vm 584701 CONSFRUCTION 512.076 2�r74 234,524 407,100 600,000 234,524 OA% 173.6% CAPITAL $ $ $ $ 518.754 $ =4.624 $413,573 $ 606.500 $234,524 OA% 176.3% TOTAL EXFENDirURES $ $ $ - $ 729,562 .'$ d?,E3 $ 262.667 $475,198 $ 70600 $262,467 0.0% 180.9-70 •EXEMPTIFY IG EXCELLENCE" Y P'� Date: May 17, 2019 Agenda Item No. 111-C Subject.; Review and consider rejecting all bids relative to construction of the Section House Originated by: Bob Hart Summary; The EDC received the attached bids for construction of the section house. The bids exceeded the funds available for construction. The low bidder, MCC and Associates met with staff-and the architect to discuss potential reductions in cost. It became clear that if costs were to be sufficiently reduced, the commercial use of the building would be compromised. Consequently, it is the recommendation that all bids be rejected and the EDC seek an alternative route for construction. Recommendation: Staff recommends rejection of all attached bids Disposition by Board: Kennedale Section House CMAf10129,001 Bid Tabulation April 27, 2011 (}li gCOt�stl i ctivn Iltperial Construction,Inc. (Weatherford,TX) $389,700.00 I10 days Yes = . :..5_ *.Y.i'?:_ - vl•=. ^:Fs. ^lt•:i�i`Wv��,-�ei�'t f.:_,.'SS4c - ::iV �- Y�l~ __ - :'.l♦ '::Gy }h^ -- 1 S:r ♦.4.t vi G�iti _-Z�.'l� .4, ?4'-�:• � �. _ t; ntisoclates,Dec y z� z y t ' TI'tDI file,General Contractors $4985500,00 26 weeks Yes (CoppelI!TX) - ._3s•r - - _ =3e=r':=: .'a-=_ ..�,�:: .,c.:x ]r3i� i�°"5y-st'.�:i�a�tt•:i �� :;4:>;�?�y:�� 151' Ctr .�. - Scott Tucker Construe#1011 Company,LI,C (It`ort Worth TX) $367,000,00 22 weeks Yes _- - `, `-fi aSt.lL _ _ �•:>?:).� 'r� it tiit51:�.•.. 1�`�erei lCo -sfi i��..4 _ri .,,..- ;.�.:.... {r_ .,�. rw:� ;•;�;. 1111 '.�,_•. The Fain Group,1110. (Fort Worth,TX) $54A,9&2.00 43�vecics 'es Date: May 17, 2011 Agenda Item No: 111-D Subject: Review construction options on the Section House and consider authorizing Executive Director to engage Brian Lea, DBA of Clear Construction as construction manager. Originated by: Bob Hart Summary: Staff recommends the EDC engage a construction manager to oversee the construction of the section house and the various components o the project be bid and awarded separately. The building component should also be valued engineered with alternative materials and/or construction practice. Finally, the public restrooms should be deleted but the building constructed such that they could be added at a later date. Recommendation: Staff recommends that Brian Lea be engaged as the construction manager for this project. Disposition by Board: C O N i O N O O U N lay,A j � 5 CCWF It C ff FL . ..... ...... `C3 C C37 C ❑.. L L 1111 \ �\ l"M O � 'NEENS Offil imoto ON 10" I MEN NN o H H (5• PARKING SPMESO F I_ zs F T-7-77� lot 107 C4 -0 ne:: N r—1 1/4' I Oyl�2 1 33 zli )IM IA Ell '-3 3/4r lv CM, Fin :iii w ------ --- ---- i rig" J1, 7i t4 o ➢ b 4 u � n _ a L!N m z sum n� z � D RIC> ;�� n: t'n:g xaro� xoFan z Z RY �Q ' xro b�cY �c FW 1 I � a � � . � {�}J - � . uo w R gwo§ o=oz ^wGf qg §m7 .......... £2§ §«g .. §Flo Date: May 17, 209 9 Agenda Item No: III-E Subject: Discuss economic development incentives policy Originated by: Bob Hart Summary: Kennedale is receiving inquiries concerning business relocations. Kennedale is limited in sites and those sites often require redevelopment strategies. This item has been placed on the agenda in order to generate a recommend policy to submit to the city council regarding economic development incentives, Attached is a model for economic development incentives policies and a sample policy from the city of North Richland Hills. Recommendation: Disposition by Board: Model for Economic Development Incentives Policy Tailor-Made • Designed specifically for subject agency Purpose-Driven • Designed with the ends in mind • Clear on the legal authority to offer such policy Clear Framework for Incentives • Indicates the intent and purpose of Incentives • Establishes the legal means and builds a platform for the use of incentive tools Interchangeable Programs • Individual incentive programs designed Selected specifically to achieve certain objectives and Programs to meet specific needs • Upon renewal,alternative programs may be added or replace previous programs to meet changing needs and strategies Potential • Future Clearly-Defined Requirements Programs Lists specific Information that Is required of applicants Manageable Review & Coilaboratioo . Designed to guide &evaluate incentive requests prior to council or board meetings • Aimed at partnering with applicants to develop best-fit incentive agreements • Prevents applicant temptation to"choose from off a menu" Community-Oriented . Tailored to promote specific community policies and initiatives Safe-Guarded • Protects against defaulted agreements • Performance-based Stroh Flex!b le.Ag reements • Terms, conditions, and milestones suited to each individual case and situation Pof]cy� aene"`a' Uniform Application �euEaat���s s Application designed to seamlessly support multiple policies of multiple agencies Con ed3; sepratey, Structured Processing frs' ios : Orderly and efficient application and approval to process Tarrant County College hi North Richland Hills works with businesses to plan specialized employee job training and job fairs. Birdville TSD will be opening a state of the art Career and Technology Education Facility in Fall 2009. At this campus they will be teaching high school students job skills that are vital to our job marketplace. Please contact the City of North Richland Hills Economic Development Department for more information regarding the above incentives at($17)427-6090. State of Vexes Incentives t A WILIL 011'.v pol! BUSIN-L.s �' The State of Texas has a nrunber of incentives to assist in business development and expansion throughout the Texas. These programs are offered through the Texas Economic Development and Tourism Division of the Office of the Governor. Texas Enterprise Zone Program The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and capital investment in economically distressed areas of the state. Local communities must nominate a company as an Enterprise Project to be eligible to participate in the Enterprise Zone Program. Designated projects arc eligible to apply for state sales and use tax refiuids on qualified expenditures. • Texas Small Business Fund The Texas Small Business Fund provides financing to foster and stimulate the development of small businesses in Texas.preference for funding will be given to the state's defined industry clusters within emerging technology fields including semiconductors; nanotechnology; biotechnology and biomedicine; renewable energy;agriculture and aerospace. • Product Development Fund The Texas Product Development Fund provides financing to aid in the development, production and commercialization of new or improved products within the state. products appropriate for the Fund are inventions, devices, techniques, or processes that have advanced beyond the theoretical stage and are ready for immediate commercial application. For more information on incentives available to businesses and developers in Texas, please contact the North Richland Hills Economic Development at (817)427-6090 or the Texas Economic Development and Tourism Office at(512)463-2000. Date: May 97, 2091 Agenda Item No: III-F Subject: Discuss options for use of property at 1 170 E. Kennedale Parkway Originated by: Bob Hart Summary: The EDC is moving forward with the purchase of the property at 1970 E. Kennedale Parkway. Closing is anticipated in July. The staff has received inquiries about purchasing or leasing the property for businesses. This item has been placed on the agenda in order to provide direction in responding to these inquiries. Recommendation: Disposition by Board: Page 1 of 1 Bob Hart From: Brian Lea[brianlea @tx.rr.com) Sent: Tuesday, May 17, 20115:09 PM To: Bob Hart Subject: other thoughts Bob, 1 hit the send button before 1 realized my thoughts were not complete... I am ready and prepared to complete an agreement document that you and I can agree upon immediately and we can get started with the details and preliminary work. There are some small projects that I am working on that are quickly drawing to a close and my classes are finished for the spring semester as well. If you and 1 can get this under agreement by the end of the week(not sure how the time frame works with whatever necessary Council approval, etc...)then I can pour the time into the initial firming of subcontractor bids and further work on cost-saving measures/suggestions beyond what I have already done. 1 will put together a list of specific detail questions for us to discuss and send them over for you to ponder before we meet again. Let me know when that meeting needs to take place. Thanks, Brian Lea